436 S 3rd Ave, Deer Trail, CO 80105
2 beds · 2 baths · 2,288 sqft
Welcome to Deer Trail, the birthplace of the World’s First Rodeo! Nestled in the peaceful Bijou Creek neighborhood, this home offers a perfect blend of country charm and modern convenience, just a short drive from the city. This like-new property is move-in ready and designed with comfort in mind. Featuring 2 spacious bedrooms, 2 full bathrooms, and an open-concept floor plan, it’s ideal for easy living. The main floor laundry adds a layer of convenience, while the laminate and tile flooring throughout complement the home’s modern aesthetic. The kitchen boasts sleek granite countertops, providing both style and functionality for all your culinary adventures. Equipped with central air conditioning, this home ensures year-round comfort. The oversized two-car garage offers plenty of space for storage or a workshop. A full unfinished basement with rough-in plumbing invites endless possibilities—whether you dream of a home gym, additional living space, or a personal retreat, the choice is yours! Step outside to enjoy the expansive backyard and stunning sunsets Deer Trail is known for. With a nearby **neighborhood park, open space, and direct access to the local school, Bijou Creek is perfect for anyone seeking a serene lifestyle away from the city’s hustle and bustle. Make this house your home and unlock the potential of life in Deer Trail!
Source: RECO #7196245
Financials
Source: Public records
Source: RECO #7196245
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
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